Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) Shares Shorted: Short Interest Down 37.3% in October

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 5,093 shares, a decline of 37.3% from the September 30th total of 8,127 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 26,344 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Large investors have recently added to or reduced their stakes in the business. Uhlmann Price Securities LLC grew its stake in shares of Western Asset Investment Grade Income Fund by 530.0% in the third quarter. Uhlmann Price Securities LLC now owns 110,826 shares of the financial services provider’s stock valued at $1,271,000 after buying an additional 93,235 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Western Asset Investment Grade Income Fund during the 3rd quarter valued at about $992,000. Waverly Advisors LLC acquired a new position in Western Asset Investment Grade Income Fund during the 2nd quarter worth approximately $269,000. Bank of America Corp DE acquired a new position in Western Asset Investment Grade Income Fund during the 2nd quarter worth approximately $243,000. Finally, Susquehanna International Group LLP lifted its position in Western Asset Investment Grade Income Fund by 16.0% during the 2nd quarter. Susquehanna International Group LLP now owns 12,605 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 1,734 shares in the last quarter. 18.99% of the stock is owned by institutional investors and hedge funds.

Western Asset Investment Grade Income Fund Price Performance

Western Asset Investment Grade Income Fund stock opened at $11.48 on Wednesday. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.24 and a fifty-two week high of $12.95. The stock’s fifty day moving average is $11.56 and its two-hundred day moving average is $12.06.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a $0.0525 dividend. The ex-dividend date is Friday, November 20th. This represents a $0.63 annualized dividend and a dividend yield of 5.5%.

About Western Asset Investment Grade Income Fund

Western Asset Investment Grade Income Fund (NYSE: PAI) is a diversified, closed-end management investment company. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing primarily in investment-grade fixed-income securities.

Its portfolio may include corporate bonds, U.S. government and agency securities, mortgage-backed securities, asset-backed securities, and other debt instruments. The fund may also invest in securities issued by entities outside the United States, providing exposure to global fixed-income markets while maintaining an emphasis on higher-quality credit.

PAI is managed by Western Asset Management Company, a global fixed-income investment manager and an affiliate of Franklin Resources.